Venture capital fund Downing Ventures has participated in a £4 million Series A1 funding round for Cambridge Touch Technologies Limited (CTT).
Spun out of the University of Cambridge in 2011, CTT is a leading developer of AI-powered 3D touch technologies that can be used across a wide range of smart devices, from smartphones and tablets to automotive and industrial technologies.
CTT’s technology uses a variety of sensors to allow people to use multi-touch on their device. For example, smart device users will be able to zoom, drag, peek and select options all with a simple press touch.
3D touch technology is currently being deployed by all leading mobile and smart device makers but, unlike many existing approaches, CTT’s technology can be scaled across various sizes of displays and is significantly cheaper to implement.
CTT is already working with suppliers and partners, including display panel manufacturers, to help facilitate the mass adoption of its technology in the near future.
Downing Ventures has invested through its EIS fund alongside existing investors Parkwalk Advisors, Cambridge Enterprise and Amadeus Capital Partners. Shanghai-based China Materialia joins Downing Ventures as a new investor in this latest funding round.
Richard Lewis, Investment Director at Downing LLP, added:“CTT is a truly innovative 3D touch platform. Thanks to the world class team, the business has been able to develop a low cost architecture that has the potential to disrupt the global touch screen market and we’re looking forward to helping the company achieve these ambitions.”
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